By Greg Hazley
The American business sector is down on President Barack Obama's economic policies and rooting for big Republican wins in the mid-term elections, according to a poll by FTI Consulting, the parent company of FD.
Seventy-eight percent among 400 U.S. investors, financial advisors and small and large business owners polled by FTI in mid-October said the best electoral outcome is for Democrats to lose majority control of at least one house of Congress, while 55 percent see both houses changing hands as the best outcome for business.
“Right now, businesses are choosing the status quo over calls for change,” said Edward Reilly, CEO Americas of FD. “They believe the most favorable environment for them would be to slow down change, and they see that as more likely with divided government.”
A majority, 64%, said Republican control of Congress would lead to improved economic conditions, including 60% who expect a hiring increase and 56% who said capital expenditures would tick up.
Two-thirds of respondents disapprove of President Obama’s job performance managing the economy, while 68% said the administration does not understand the challenges facing American business. Fifty-six percent of respondents said that Obama and congressional Democrats have not set a clear direction for U.S. economic policy and that lack of clarity is causing uncertainty for companies and investors.
Healthcare and financial reform seem to be at the root of those negative numbers for the White House. Nearly 70% cited healthcare reform as having a negative impact on their business and investment interests, while 65% cited financial services reform.
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